How can I assign the match of my regular expression to a variable?

I have a text file with various entries in it. Each entry is ended with line containing all asterisks.

I'd like to use shell commands to parse this file and assign each entry to a variable. How can I do this?

Here's an example input file:

***********
Field1
***********
Lorem ipsum
Data to match
***********
More data
Still more data
***********

Here is what my solution looks like so far:

#!/bin/bash
for error in `python example.py | sed -n '/.*/,/^\**$/p'`
do
    echo -e $error
    echo -e "\n"
done

However, this just assigns each word in the matched text to $error, rather than a whole block.